Eric Trump: JPMorgan's 180-Degree Shift on Bitcoin in 18 Months
Eric Trump stated on the main stage of the Consensus 2026 conference that JPMorgan publicly mocked Bitcoin as a "joke asset" 18 months ago.
Now, JPMorgan has officially launched a Bitcoin-backed mortgage service, allowing customers to use Bitcoin holdings as collateral for loans.
He emphasized that this shift from public opposition to actual business operations took only 18 months.
Source: Public Information
ABAB AI Insight
Eric Trump's remarks continue the Trump family's long-standing positive stance on Bitcoin. Previously, their family crypto project WLFI has heavily invested in stablecoins and AI. By specifically mentioning JPMorgan at the Consensus conference, he aims to highlight the rapid alignment of traditional Wall Street institutions with Bitcoin.
In terms of capital pathways, JPMorgan is moving from "zero allocation" of Bitcoin to accepting it as qualified collateral. Through mortgage products, they are bringing institutional capital into the Bitcoin market while reducing the opportunity cost for customers holding Bitcoin, creating a positive feedback loop of "Bitcoin collateral → loan liquidity → more institutional allocation."
Similar to asset management giants like BlackRock and Fidelity, which have transitioned from skepticism to launching Bitcoin ETFs, traditional financial institutions are currently undergoing a comprehensive shift from public resistance to actual business integration regarding cryptocurrencies as collateral.
Essentially, this represents capital concentration: traditional giants like JPMorgan are reintroducing Bitcoin capital, previously outside the mainstream financial system, back into the banking credit process through Bitcoin-backed loans, restructuring resources from pure speculative holdings to leverageable institutional assets. Mechanically, this accelerates Bitcoin's structural transition from a fringe asset to mainstream financial infrastructure through product innovation.
ABAB News · Law of Cognition
Assets that Wall Street criticizes the most today often become their collateral 18 months later. The fastest attitude shifts are never from retail investors, but from the institutions that are best at calculating. When banks are willing to include Bitcoin in their loan models, the cycle has entered a new phase.